Mission Statement : "To impart relevant quality higher education to the students, to groom them to be conscious, researchers, technologists, professionals and citizens, bearing the torch for disseminating knowledge in masses for suitable socio-economic development of the society."

Finance Section exists from the very inception of the university. Finance section works directly under the control of Hon'ble Vice Chancellor and deliverables of the section are as per the section 20 & Chapter XII of "The University Act, 1994". The functional role & responsibilities are divided into 12 units as defined in Appendix IV (A) of "The Maharashtra Universities Common Account code" complying with the Ordinances & Statutes of the University within the available designated short staffing pattern. All financial transactions are regulated in the light of provisions made in the budget and after complying with resolutions made in Finance & Accounts Committee, its Sub-committees and purchase committees through proper approving hierarchy. Accounts of the university are audited every year by Internal & Statutory Auditors appointed as per provisions of The University Act & Common Account Code. Further the Office of the Accountant General (AG) has completed its audit up to financial year 2008-09. At present there are no major objections/ claims/ demands/ notices pending with the section raised by any of government bodies.

The Budget & Financial statements are prepared by the team of the Finance & Accounts officer as per the recommendations of the Sub-committee as framed according to Common Account Code, then after primary approval of authorities, these reports are kept before Hon Finance & Accounts Committee (F&AC) for Suggestions & approval to keep before Management Council (MC). After approval of MC, all these reports kept before Hon Senate for final approval. Considering changes as suggested by MC & Senate, final approved Budget & Financial statements with Audit Report are circulated to office of the Hon. Chancellor & Governor, Hon Accountant General, Secretary of Department of Higher Education & Hon Members of Vidhan Sabha, Government of Maharashtra.

Use of computerization :-

The peculiar feature of this Section is that it uses high-end computer software“ERP-SAP ECC6” for recording & reporting of all financial transactions from financial year 2009-10 and taken initiative to collect fees & other receipts through "Online Payment Gateway" system. In addition to above, department using“Business Intelligence” software for reporting of development & project grants.

Auditing Controls :-

The primary control of the audit of each transactions is rested in the hands of Section Officers of each unit, whereas, audit of specified major transactions like constructions bills, salary bills, security, gardening & sanitation bills is rested with the Assistant Registrar. In addition to this, University have continued the practice of appointing Internal Auditor for professional audit work, university appointed its Internal auditor for FY 2013-14 M/s R N Khairnar & Co., Jalgaon a renowned audit firm to carry out periodic / vigilance review of all financial records. Quarterly reports of Internal Auditor are reviewed by the statutory auditors and the authorities of university (Finance & Accounts Committee And Management Council) in their meetings from time to time.

As per the University Act,1994, Section 103 (1) requires University to appoint auditor to get audited its annual accounts every year. In compliance to this, University appointed M/s Ratan Chandak & Co, Jalgaon a renowned CA firm as statutory auditor for FY 2013-14. The Audit of University Accounts is completed up to FY 2013-14 and got approved by University Authorities (the FAC/MC/Senate) in the month of October 14.

As per The University Act,1994, Section 8 for control of State Government & Universities, Clause 5 empowers State Government to have test or full audit of affairs of university by Indian Audit & Accounts Department, office of the Accountant General. Our University accounts are audited up to FY 2008-09 by this office & hopeful to receive further plan to complete audit up to 2013-14 very soon.